Weyerhaeuser (NYSE:WY) Position Trimmed by Independence Bank of Kentucky

Independence Bank of Kentucky trimmed its stake in shares of Weyerhaeuser (NYSE:WY) by 30.8% during the fourth quarter, Holdings Channel reports. The firm owned 1,575 shares of the real estate investment trust’s stock after selling 700 shares during the period. Independence Bank of Kentucky’s holdings in Weyerhaeuser were worth $44,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Oakworth Capital Inc. bought a new position in Weyerhaeuser in the 3rd quarter worth approximately $25,000. Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Weyerhaeuser by 4,884.2% during the third quarter. Thurston Springer Miller Herd & Titak Inc. now owns 947 shares of the real estate investment trust’s stock valued at $32,000 after purchasing an additional 928 shares during the period. Bangor Savings Bank raised its stake in shares of Weyerhaeuser by 140.3% during the third quarter. Bangor Savings Bank now owns 1,115 shares of the real estate investment trust’s stock valued at $38,000 after purchasing an additional 651 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Weyerhaeuser by 172.4% in the third quarter. Meeder Asset Management Inc. now owns 1,136 shares of the real estate investment trust’s stock worth $38,000 after purchasing an additional 719 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in Weyerhaeuser in the 3rd quarter valued at about $45,000. 82.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have commented on WY. Truist Financial dropped their price target on shares of Weyerhaeuser from $34.00 to $33.00 and set a “hold” rating on the stock in a research report on Monday, January 6th. Raymond James upgraded Weyerhaeuser from a “market perform” rating to an “outperform” rating and set a $32.00 target price for the company in a research report on Monday, December 23rd. StockNews.com cut Weyerhaeuser from a “hold” rating to a “sell” rating in a research report on Wednesday, January 29th. Cibc World Mkts upgraded Weyerhaeuser from a “hold” rating to a “strong-buy” rating in a report on Wednesday, January 15th. Finally, Citigroup dropped their price target on shares of Weyerhaeuser from $38.00 to $35.00 and set a “buy” rating on the stock in a research report on Wednesday, January 15th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, five have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.14.

Weyerhaeuser Trading Down 1.0 %

NYSE:WY opened at $30.64 on Monday. The stock has a fifty day simple moving average of $29.72 and a 200 day simple moving average of $30.92. The company has a quick ratio of 1.41, a current ratio of 2.01 and a debt-to-equity ratio of 0.49. The firm has a market capitalization of $22.27 billion, a price-to-earnings ratio of 41.41 and a beta of 1.42. Weyerhaeuser has a 1-year low of $26.73 and a 1-year high of $36.27.

Weyerhaeuser (NYSE:WY) last released its earnings results on Thursday, January 30th. The real estate investment trust reported $0.11 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.04. Weyerhaeuser had a net margin of 7.43% and a return on equity of 4.21%. Sell-side analysts forecast that Weyerhaeuser will post 0.49 earnings per share for the current year.

Weyerhaeuser Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 13th. Stockholders of record on Friday, November 29th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, November 29th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.61%. Weyerhaeuser’s payout ratio is currently 108.11%.

About Weyerhaeuser

Weyerhaeuser Company, one of the world's largest private owners of timberlands, began operations in 1900. We own or control approximately 11 million acres of timberlands in the U.S. and manage additional timberlands under long-term licenses in Canada. We manage these timberlands on a sustainable basis in compliance with internationally recognized forestry standards.